Renovation financing options.
Your home is one of your biggest investments. Whether you’re refreshing a kitchen, adding a bathroom or taking on a full renovation, Conexus has financing options to help you get the job done — and keep your financial goals on track.
Choose the financing that fits your project.
Home Plus Plan
Borrow up to 80% of your home’s appraised value as a flexible revolving credit option.
Purchase Plus Improvement Plan
Add extra money to your mortgage so you can cover the costs of renovations in one convenient loan.
Refinancing
Replace your mortgage with a new one, including extra funds and new terms.
Personal loan
Borrow a fixed amount and repay it with regular payments over a set term.
Line of credit
A flexible credit option that lets you borrow as needed and repay at your pace.
Credit card
Pay for smaller projects and renovation purchases with flexible repayment options.
Which financing option is right for you?
| Option | Best for | Key consideration |
|---|---|---|
| Credit card | Small projects (materials, minor services). | Convenient for smaller purchases, but carrying a balance may result in higher interest costs. Using a large portion of your available credit may also impact your credit score. |
| Personal loan | Mid-size projects with a defined budget. | Receive a fixed amount upfront and repay it through regular payments over a set term. Interest rates and terms vary based on your situation. |
| Purchase Plus Improvements | Buying a home that needs renovation. | Allows eligible homebuyers to include renovation costs in their mortgage. Renovations must be approved by Conexus and completed within required timelines. |
Line of credit | Ongoing renovations or projects with changing costs. | Provides flexible access to funds when you need them. Interest is only charged on the amount borrowed, and payments are based on your balance. |
Home Plus Plan | Major renovations for existing homeowners with equity. | Access up to 65% of your home's value through a flexible, revolving credit option. Requires equity and approval. |
Refinancing | Major renovations; unlocking significant equity. | Replaces your existing mortgage with a new one that may include additional funds. May involve fees, a new mortgage term, and other costs. |
Tools to help you plan.
Common questions.
Here’s what people ask us the most.
-
There are several ways to finance your renovation, depending on your project size, budget and financial goals. Options include using a credit card for smaller purchases, a personal loan for a fixed amount with regular payments, a line of credit for flexible access to funds or using your home equity through options like the Home Plus Plan or refinancing. A Conexus Advisor can help you choose the option that best fits your needs.
-
A personal loan may be a good fit if you know exactly how much you need and prefer predictable payments over a set term. A line of credit offers more flexibility, allowing you to borrow funds as needed and pay interest only on the amount you use. The right option depends on your renovation plans, repayment preferences and financial situation.
-
Yes. If you have built equity in your home, options like the Conexus Home Plus Plan or mortgage refinancing may help you access funds for renovations. The Home Plus Plan allows eligible homeowners to borrow against their home’s value, while refinancing replaces your current mortgage with a new one that may include additional funds. Approval is based on your financial situation and lending criteria.
-
For larger renovation projects, options like the Home Plus Plan, refinancing or a Purchase Plus Improvements Plan may provide access to more funds and longer repayment periods. The best option depends on whether you already own your home, how much equity you have and the size of your project. A Conexus Advisor can help you explore your options.
Not sure where to start?
Choosing the right renovation financing option depends on your goals, your equity and your timeline. We're here to help you map out a plan that works. Book an appointment and let’s turn your renovation vision into something real.
